会计专业英语

一、wordsandphrases1.残值scripvalue15.retainedearnings留存收益2.分期付款installment16.trad-in易新，以旧换新3.concern企业17.intransit在途4.reversingentry转回分录18.collection托收款项5.找零change19.资产asset6.报销ceeds现值7.pastdue过期21.报销turnover8.inflation通货膨胀22.dishonor拒付9.onaccount赊账23.utilityexpenses水电费10.miscellaneousexpense其他费用24.outlay花费11.charge收费25.IOU欠条12.汇票draft26.Going-concernconcept持续经营13.权益equity27.运费freight14.accrualbasis应计制二、Multiple—choicequestionl.Whichofthefollowingdoesnotdescribeaccounting? (C)AoLanguageofbusinessB。UsefulofrdecisionmakingC。Isanendrathethanameanstoanend.D.Usedbybusiness,government,nonprofitorganizations,andindividuals。2oAnobjectiveoffinancialreportingisto(B)A.Assesstheadequacyofinternalcontrol。B.Provideinformationusefulforinvestordecisions.C.EvaluatemanagementresultscomparedwithstandardsoD。Provideinformationoncompliancewithestablishedprocedures.3。Whichofthefollowingstatementsis(are)correct?(B)A.AccumulateddepreciationrepresentsacashfundbeingaccumulatedforthereplacementofplantassetsB。Acompanymayusedifferentdepreciationmethodsinitsfinancialstatementsanditsincometaxreturn.CoThecostofamachineincludesthecostofrepairingdamagetothemachineduringtheinstallationprocessD。Theuseofanaccelerateddepreciationmethodcausesanassettowearoutmorequicklythandoesuseoftheunit-of-productmethod.4.Whichofthefollowingis(are)correctaboutacompany'sbalancesheet?(B)AoItdisplayssourcesandusesofcashfortheperiod.B.ItisanexpansionofthebasicaccountingequationC.Itisnotsometimesreferredtoasastatementoffinancialposition.D.Itisunnecessaryifbothanincomestatementandstatementofcashflowsareavailabe.5.Objectivesoffinancialreportingtoexternalinvestorsandcreditorsincludepreparinginformationaboutallofthefollowingexcept.(A)A.InformationusedtodeterminewhichproductstopoduceB。Informationabouteconomicresources,claimstothoseresources,andchangesinbothresourcesandclaims。CoInformationthatisusefulinassessingtheamount,timing, anduncertaintyoffuturecashflows。D.Informationthatisusefulinmakingivestmentandcreditdecisions.6。Eachofthefollowingmeasuresstrengthensinternalcontrolovercashreceiptsexcept(C)A.Theuseofapettycashfund.B。Preparationofadailylistingofallchecksreceivedthroughthemail。C.Theuseofcashregisterso D.Thedepositofcashreceiptsinthebankonadailybasis.7。Theprimarypurposeforusinganinventoryflowassumptionisto.(A)AoOffsetagainstrevenueanappropriatecostofgoodssold.B。Parallelthephysicalflowofunitsofmerchandise。C。Minimizeincometaxes.D。Maximizethereportedamountofnetincome.8。Ingeneralterms,financialassetsappearinthebalancesheetat。(B)AoCurrentvalueB。FacevalueC。CostD.Estimatedfuturesalesvalue.fthegoing—concemassumptionisnolongervalidforacompanyexcept.(C)A.Landheldasanivestmentwouldbevaluedatitsliquidationvalue.B。Allprepaidassetswouldbecompletelywrittenoffimmediately.C.Totalcontributedcapitalandretainedearningswouldremainunchanged.D.Theallowanceforuncollectibleaccountswouldbeeliminated..Whichofthefollowingexplainsthedebitandcreditrulesrelatingtotherecordingofrevenueandexpenses?(C)AoExpensesappearontheleftsideofthebalancesheetandarerecordedbydebits；revenueappearsontherightsideofthebalancesheetandisreoordedbycredits.Expensesappearontheleftsideoftheincomestatementandarerecordedbydebits；Revenueappearsontherightsideoftheincomestatementandisrecordedbycredits。 C.Theeffectsofrevenueandexpensesonowners,equity.DoTherealizationprincipleandthematchingprinciple..Whichofthefollowingstatementsis(are)correct?(B)A.Accumulateddepreciationrepresentsacashfundbeingaccumulatedforthereplacementofplantassets.B。Thecostofamachinedonotincludesthecostofrepairingdamagetothemachineduringtheinstallationprces&CoAcompanymayusesamedepreciationmethodsinitsfinacialstatementsanditsincometaxreturn.D。Theuseofanaccelerateddepreciationmethodcausesanassettowearoutmorequicklythandoesuseofthestraight—linemethodo12oAsetoffinancialstatements(B)exceptoA.Isintendedtoassistusersinevaluatingthefinancialposition,profitability, andfutureprospectsofanentity.B。IsintendedtoassisttheIntemalRevenueServiceindeteminingtheamountofincometaxesowedbyabusinessorganization.C.IncludesnotesdisclosinginformationnecessaryfortheproperinterpretationofthestatementsD.Isintendedtoassistinvestorsandcreditorsinmakingdecisionsinventorytheallocationofeconomicresources13.Theprimarypurposeforusinganinventoryflowassumptionisto.(B)AoParallelthephysicalflowofunitsofmerchandise.B.OffsetagainstrevenueanappropriatecostofgoodssoldC.Minimizeincometaxes.D。Maximizethereportedamountofnetincome。14.Indicateallcorrectanswers.Intheaccountingcycle。(D)A.Transactionsarepostedbeforetheyarejournalized。B.Atrialbalanceispreparedafterjournalentrieshaven'tbeenpostedoC.TheRetainedEarningsaccountisnotshownasanup-to-datefigureinthetrialbalanciDoJoumalentriesarepostedtoappropriateledgeraccounts。15.Accordingtotext,ObjectivesofFinancialReportingbyBusinessEnterprises。 (D)A.Extemalusershavetheabilitytoprescribeinformationtheywant。B.Informationisalwaysbasedonexactmeasures。C.Financialreportingisusuallybasedonindustriesortheeconomyasawhol1D.Financialaccountingdoesnotdirectlymeasurethevalueofabusinessenterprisi16。Indicateallcorrectanswers.Dividendsexcept(A)AoDecreaseowners,equityo B。DecreasenetincomeC.ArerecordedbydebitingtheCashaccountDoAreabusinessexpense17oWhichofthefollowingpracticescontributestoefficientcashmanagement?(C)A.Neverborrowmoney-maintainacashbalancesufficienttomakeallnecessarypayments.BoRecordallcashreceiptsandcashpaymentsattheendofthemonthwhenreconcilingthebankstatementsCoPreparemonthlyforecastsofplannedcashreceipts,payments,andanticipatedcashbalancesuptoayearinadvance^D.Payeachbillassoonastheinvoicearrives.18oWhichofthefollowingwouldyouexpecttofindinacorrectlypreparedincomestatement? (A)A.Revenuesearnedduringtheperiodo B.CashbalanceattheendoftheperiodoC.Contributionsbytheownerduringtheperiodo DoExpensesincurredduringthenextperiodtoearnrevenues。19oWhichofthefollowingareimportantfactorsinensuringtheintegrityofaccountinginformation? (D)AoInstitutionalfactors,suchasstandardsforpreparinginformation°BoProfessionalorganizations,suchastheAmericanInstituteofCPAs。C.Competence,judgment'andethicalbehaviorofindividualaccountants7D°Alloftheaboveo三、Practices11oOnJan。1,2000,MarkCo,acquiredequipmenttouseinitsoperations。Theequipmenthasanestimatedusefullifeof10yearsandanestimatedsalvagevalueof$5,000.Thedepreciationapplicabletothisequipmentwas$40,000for2000,calculatedunderthesum-of-the-years,-digitsmethod.Required:Determinetheacquisitioncostoftheequipment.(C)A.$210,000Bo$250,000C。$225,000D。$200,0002oOnJan。2,2002,MarkCo,acquiredequipmenttouseinitsoperations。Theequipmenthasanestimatedusefullifeof10yearsandanestimatedsalvagevalueof$5,000。Thedepreciationapplicabletothisequipmentwas$24,000for2004,calculatedunderthesum-of-the-years'-digitsmethod(4%)。Required：Determinetheacquisitioncostoftheequipment.(C)A.$220,000B.$250,000C.$224.000Do$200,0003oOctober1,2005,CoastFinancialloanedBartCorporation$3000,000,receivinginexchangeanine-month,12percentnotereceivableoCoastendsitsfiscalyearonDecember31andmakesadjustingentriestoaccrueinterestearnedonallnotesreceivableoTheinterestearnedonthenotereceivablefromBartCorporationduring2006willamounttco(A)A.$9,000B.$18,000C.$27。000Do$36,000-hefolov/ngdataapplyiothecashrecordsofiheHollyCo.:EndYgcashbal.,perbooks S4.120TOC\o"1-5"\h\zEndingca劝bal.,p^rbarkstatement 5,000Outstandingchecks 11515Servicechargeformonth,* ..8Proceedsfrombankcollectionofnote(incjdinginterestofS18]■,■.’犯Depositsintransit" …Inerror,HollyCo.recorded白depositof$25佃ca时।蚓拈沥$250.Question:Whatisthereconciledbalance?(B)Ao$4,187Bo$4,085C。$4,090D。$4,000ThefollowingdataapplytotheceshrecordsoftheXLCoJ<4^>Erodingcashbal.,perbooks $3,120TOC\o"1-5"\h\zEndingcashibal.,perbankstatemem- ……… ---- 3,000Outetaridingchecks"'1 -* 775Servicechargeformonth 3ProciM-dsfromt^nkcolledioriofnote(includinginterestcf&8)，・「，，,..10SDepositsin廿2口专上“，”，”— —…・」・,“〃」■■01,000Inerror.XLCo.recordedadeposit&S85forrashsstesasssa.Required:Choosethereconciledbalance.(D)A.$3,220B.$3,250C°$3,200D.$3,225Thefoll&'winginformatiorLi&availableforGrantlie..for2008:FreightinS20ODOPurchase-TeturnsSOODQSeiSngexpense20DODOEndinginventory90DOOBeginningnventory5000Thecostofgoodssoldisequato2D0isercentofsellingexpense.Required:Calculatethecostofgoodsavailableforsale(C)Ao$475,000Bo$474,000C.$470,000D°$473,000ThefblevyinginfoninationisavailableforHallco.for2000:Sellingexp.00,000Purchasereturns5.DC0Freightrn8..000Ending।皿白ntory60,000Purchase,isequalto300%ofsellingexioenss.Required：Calculatethecostofgoodssold(D)Ao$225,000Bo$254,000C.$250,000D.$253,0008oAttheendofthecurrentyear,theaccountsreceivableaccounthasadebitbalanceof$60，000andnetsalesfortheyeartotal$100,000。Theallowanceaccountbeforeadjunstmenthasadebitbalanceofa$500,anduncollectibleaccountsexpenseisestimatedat1%ofnetsales。Question:Theentryfortheabovebaddebtsis(A)AoDroBadDebtAccts。$1,500 B.Dr.BadDebtAccts.$500Cr。AllowanceDoubtfulAccts°$1,500 Cr°AllowanceDoubtfulAccts.$500C.Dro BadDebtAccts.$1,000 D。Dr.BadDebtAccts。$1,500Cr.AcctsRec.$1,000 Cr.AcctsRec。 $1,5009oThebalancesheetitemstoTheOvenBakery(arrangedinalphabeticalorder)wereasfollowsatAugust1,200，(Youaretocomputethemissingfigureforretainedearnings。)(4%)AccountsPayable $16,200C即的IStock $60.000AccountsReceivable 11,2.00Land S7:0tMBuitding £4,000MotesPa^ble 74,900Cash 6,540 SalariesPayable 1,600EquipmentandFixtures 44,500Supplies 7,000REQUIRED：FindRetainedearningsatAugust12005(D)Ao$420,000B.$44,000Co$40,000D。$48,000Practices2Suebeganapublicaccountingpracticeandcompletedthesetransactionsduringfirstmonthofthecurrentyear,Required：Choosetheentriestorecordthefollowingtransactons。oInvested$50,000cashinapublicaccountingpracticebegunthisday.(A)A.DroCash$50,000 B。Dr。CapitalStock$50,000CroCapitalStock$50,000Cr。Cash$50,000.Paidcashforthreemonts'officerentinadvance$900(B)A.DroRentExp。 $900B。Dr.PrepaidRent$900Cr.Cash$900 Cr。Cash$9003。Paidthepremiumontwoinsurancepolicies,$300。( )AoDr.PrepaidInsurance$300B.Dr.InsuranceExp$300Cr。Cash$300 Cr。Cash$3004oCompletedaccountingworkforSunBankoncredit$1000。 (A)A.Dr。AcctsRec$1000 B。Dr。Cash$1000Cr.AccountingRevenue$1000Cr。AccountingRevenue$10005.Paidthemonthlyutilitybillsoftheaccountingoffice$300(A)A.DrUtilityExp$300B.DrofficeExp$300Cr。Cash$300 Cr。Cash$300Lindabeganapublicaccountingpracticeandcompletedthesetransactonsduringfirstmonthofthecurrentyear)Required:Choosetheentriestorecordthefollowingtransactons.6.Invested$20,000cashinapublicaccountingpracticebegunthisday.(A)A.DrCash$20,00B。DrCapitalStock$20,000CroCapitalStock$20,000Cr。Cash$20,007oPaidcashforthreemonths'officerentinadvance$1200.(B)AoDr。RentExp$1200B。Dr.PrepaidRent$1200Cr.Cash$1200 Cr.Cash$12008oPurchasedoffficesupplies$100andofficeequipment$2,000oncredit。 (B)A.Dr。OfficeEquipment$2,000 B.Dr.OfficeEquipment$2,000OfficeSupplies$100 OfficeSupplies$100Cr.AcctsRec.$2,100 Cr.AcctsPay.$2,1009.CompletedaccountingworkforJackHallandcollected$2000cashtherefore.(B)A.Dr。AcctsRec$2000 B。Dr。Cash$2000Cr.AccountingRevenue$2000 Cr.AccountingRevenue$200010.Purchaseadditionalofficeequipmentoncredit$2500.(A)A.Dr.Officeequipment$2500B。Dr.Officeequipment$2500CroAcctsPay$2500 Cr。AcctsRec$2500四、Translation:1)Themechanicsofdouble—entryaccountingaresuchthateverytransactionisrecordedinthedebitsideofoneormoreaccountsandinthecreditsideofoneormoreaccountswithequaldebitsandcredits.SuchformofcombinationiscalledaccountingentryoWherethereareonlytwoaccountsaffected.2)thedebitandcreditamountsareequal。Ifmorethantwoaccountsareaffceted,thetotalofthedebitentriesmustequalthetotalofthecreditentriesThedouble—entryaccountingisusedbyvirtuallyeverybusinessorganization,regardlessofwhetherthecompany’saccountingrecordsaremaintainedmanuallyorbycomputer。1。Themechanicsofdouble-entryaccounting.(B)A。会计两次记账的制度B。复式记账机制C。会计的重复记账体制2othedebitandcreditamountsareequal.(A)A.借方金额与贷方金额是相等的 B。借出金额与贷款金额是相等的 C/借入金额与贷款金额是相等的Mostaccountingmethodsarebasedontheassumptionthatthebusinessenterprisewillhavealonglife。Experienceindicatesthat.1)inspiteofnumerousbusinessfailures,companieshaveafairlyhighcontinuancerate.Accountantsdonotbelievethatbusinessfirmswilllastindefinitely,buttheydoexpectthemtolastlongenouthto2)fulfilltheirobjectivesandcommitments.3。inspiteofnumerousbusinessfailures,companieshaveafairlyhighcontinuancerate.(B)A.可惜有许多企业失败，但公司仍有较高的持续经营比率。B.尽管有许多企业倒闭，但公司仍有较高的持续经营比率。C。大中型商业的主要会计工作办公被叫做统制账。4。fulfilltheirobjectivesandcommitments.(C)A.他们充满客观困难与承诺责任。B.完成他们的目的与提交审议.C.实现与履行他们的目标及义务。Theaccountantsinaprivatbusiness,largeorsmall，mustrecordtransactionsandprepareperiodicfinancialstatementsfromaccountingrecrds。1)Thechidfaccountingofficerinamedium-sizedorlargebusinessisusuallycalledthecontrolle